this wider approach in dealing with environmental commons, particularly with global environmental commons, discussing two …

unilateral (as opposed to collective) action by individual countries to restrain despoliation of the global commons is … presumptively irrational. The conventional view flows from Garrett Hardin's classic "Tragedy of the Commons" analysis, in which … commons preservation, though collectively desirable, is economically irrational when undertaken by individuals, hence the …

-- Chapter 11: Market Solutions to Large Number Environmental Problem-Induced Changes in Risk Distributions -- Chapter 12: A … competitive markets backed by legal rules encourage risk minimization and adaptation, and how to identify the sorts of policy …